By: Mahmoud Gamal

Mubasher: Portfolios in the UAE markets started to be attracted to banks' stocks on Tuesday, which helped the markets regain ground, according to analysts.

The general index of the Abu Dhabi Securities Exchange (ADX) rose 1.2% on Tuesday, while the Dubai Financial Market (DFM) added only 0.5%.

Analysts expected that UAE markets would see a hawkish horizontal performance on Wednesday, coinciding the expectations of the hike of US stocks.

The adherence's return by the end of Tuesday's session indicates the markets' ability to rise, especially after the shock of some companies' results and distributions which burdened the markets with notable losses last week, technical analyst Ahmed Ismail told Mubasher.

The focus of portfolios to grab new places in banks' stocks would help the ADX and DFM recover, Ismail added.

The UAE banks sector hike backed by Dubai Islamic Bank which increased 1.27%, while First Gulf Bank and the National Bank of Abu Dhabi levelled up 1.56% and 1.94%, respectively.

Technical analyst Dayem Sultan expected that the DFM would extend its gains to the level of 3,520 points, which by breaking through would be trading above the level of 3,570 points.